The most important goal of KuCoin exchange is to seek for the best blockchain based project that could offer to the world’s need without prejudices. Today, they have once again published that they had listed another crypto-currency that will undoubtedly assist digital entrepreneurs globally called 0x Protocol ZRX.
The ZRX token is now open for deposits with trading pairs including ZRX/BTC and ZRX/ETH. Buying starts at 19:30 UTC+8 and selling/withdrawal at 20:00 UTC+8.
0x Protocol (ZRX) Introduction
0x is a protocol that promotes low friction peer-to-peer exchange of ERC20 tokens on the Ethereum blockchain. The protocol is designed to serve as an open standard and basic building block, running interoperability among decentralized applications (DApps) that include exchange functionality. Trades are administered by a system of Ethereum smart contracts that are publicly available, free to apply and that any DApp can hook into. DApps developed on top of the protocol can access public liquidity pools or build their own liquidity pool and charge transaction fees on the resulting volume.
The ZRX Token
These ERC20 tokens are digital tokens built on the Ethereum blockchain and are issued by cryptocurrency projects which have launched their initial coin offering. The 0x coin is an ERC20 token, and over 500 different cryptocurrencies have issued this class of token. Essentially, ERC20 tokens are Ethereum’s solution for making a cryptocurrency quickly and easily.
With all these different digital assets built on Ethereum, it is very difficult for these various assets to communicate with each other. Put just, 0x is trying to make it very easy to swap one Ethereum based digital asset for another. For example, swapping ZRX coin for Ethereum.
0x protocol token (ZRX) is utilized in two designs:
1) Solving the coordination problem and drive network results around liquidity, generating a feedback loop where early adopters of the protocol avail from broader adoption.
2) To be applied for decentralized governance covering 0x protocol’s update mechanism.